Platts to update dollar, yuan monthly average calculations for China domestic iron ore concentrate

Platts, part of S&P Global Commodity Insights, will update the $/dmt monthly average and launch new monthly average and US dollar conversion calculations for its weekly China domestic iron ore concentrate price (SB01159), effective June 6, 2025.

The formula used to calculate the US dollar conversion for the China domestic iron ore concentrate monthly average (SBMAJ03) will be updated to one that will be a monthly average of the new weekly $/dmt calculation of the China domestic iron ore concentrate price (SB02160). The weekly $/dmt calculation will be a conversion of the yuan/dmt China domestic iron ore concentrate price using the Platts assessment of the dollar-yuan exchange rate on the day of publication.

These changes will better account for exchange rate fluctuations between the US dollar and the yuan throughout the month.

Platts will also launch a monthly average of the China domestic iron ore concentrate price in yuan/dmt (SB02153).

The new and revised symbols will be as follows:

The symbol SBMAJ03 appears in Steel Raw Materials Monthly, and all three symbols will be published in the Platts price database.

Platts initially proposed the changes in an April 24 subscriber note available at: https://www.spglobal.com/commodity-insights/en/pricing-benchmarks/our-methodology/subscriber-notes/042425-platts-proposes-to-update-dollar-yuan-monthly-average-calculations-for-china-domestic-iron-ore-concentrate

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